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Q-Gold Resources (TSXV: QGR, OTC: QGLDF) has signed a definitive agreement to acquire the Quartz Mountain Advanced Gold Project in Oregon from Alamos Gold through a share exchange agreement dated March 31, 2025. The project includes 244 mineral claims across ~2,000 hectares with significant historical drilling of over 100,000 metres.
The project contains 0.34Moz in measured and indicated mineral resources and 1.15Moz in inferred mineral resources, with approximately 45% in oxide and transition ore. The acquisition terms include initial cash payment of US$2.85M, shares representing 9.99% of Q-Gold, and various milestone payments totaling US$18.15M payable in cash or shares.
The deal structure includes potential NSR royalty arrangements and requires completion of a minimum $5M financing. The project complements Q-Gold's Mine Centre historical Foley Mine in Northern Ontario, where the company is seeking approvals for re-drilling.
